Sonoro Energy Ltd. V.SNV

Selat Panjang PSC 3 Years later

[copperplay]

from time to time I will google search for articles on the Selat Panjang PSC and operations at the site.  I find it very hard to believe that we are now 3 Years after winning the contract and handing over $5 Million dollars US as a signature bonus...well actually our partner handed over the money

Is it possible this PSC has started and Sonoro being left in the dark?  How can Ministry and Skk Migas allow this to happen?  Is Jimmy that powerful and infuential to make this happen with no consequences?  Does Seismic work or Reserve Reports not have to be presented and approved in order to keep the PSC??

So many questions while Sonoro and its shareholders left holding the bag with stock at All Time Low

Unfortunately for Sonoro being a public company with no money they can't afford to wait this out and do nothing.  Make a decision boys and hope this time it is a good one for shareholders 

How many of you bought stock based on press release that operations were about to start in 2019?  How many bought stock based on reserve report getting completed and years back the previous report value was leaked by YYC who worked in the Oil Industry?

[MJB4231]

one word... BRUTAL

[StratCap]

This brings up a good question about care and maintenance. Looking at all of the infrastructure that is in place at Selat, who is looking after all of that and who is paying to keep that in good working order and no leaks or environmental issues? Who would be responsible if there was a fire per se?

[copperplay]

  This information not supposed to be disclosed to shareholders for liability?

[StratCap]

  That would be my question about liability. SNV ownership is said to be 25%... Does that mean they own 25% of the liability as well but cant have the benefit of pumping oil out the project?  Seems like not a good position to be in.

[SlyFox1]

With all the questions shareholders have, it's crazy to think how simple it would be to have them all answered. Either have an investor call as part of an AGM, or simply provide a NR for a corporate update. 

[StratCap]

  You mean like a normal operating publicly traded company? Transparency seriously lacking is an understatement with current management and board composition. If it wasnt for warrants expiring or wanting to lower the exercise price there would be no communication at all. What about that convertible debenture held by the partner that has come due in November 2021? Did they issue shares

[copperplay]

  Stratcap you seen to understand this story and realistic with expectations.  Based on SNV stuck at 2-3 cents for 6 months now...what are chances this company done as we know it and reverse merger inevitable?

[StratCap]

  I dont have any other theories or speculations that havent already been displayed here by everyone posting on this board. IMHO, at current share price, definately a reverse merger along with the usual restructuring could be one of the paths that this goes but might be the least desirable as it will likely squash the current shareholders. Obviously, Selat in its current state is not

[copperplay]

Well said and contrary to what Georgia said I confirmed it was this company looking to come in via reverse merger and not a investor presentation for financing like he said  this was about 3 months ago so if deal fell apart or things have changed is anyone guess but based on 2.5 cents I still say it will happen and Sonoro as we know it is done  I called this back in October based on

[GeorgiaStreetE]

You have just misunderstood something. The company you identified only does management consulting.

[copperplay]

  ummm again did not mis understand anything many here know the name also as it was leaked several months ago when they were looking for investors.  It was them looking to take over not find a suitable taker  

[GeorgiaStreetE]

A small Calgary firm with four business administration and marketing consultants that work with struggling companies to do strategic planning and investor presentations don't suddenly pivot to buying companies -- that doesnt make sense. They just provide business-to-business services.

[copperplay]

Well Sonoro currently worth $3 million Canadian which is peanuts I can raise money to buy them so any company looking to go public would have no problem 

[copperplay]

And if the rumours are true could be a reason stock being held down knowing can buy back with financing and warrants  again us shareholders are the ones paying the biggest price 

[StratCap]

The one thing for certain is the company needs money. Just a matter of what price the financing or loan gets done at: .02, .025 or 03...with a warrant.

[copperplay]

I hope people are sending these messages to Dean or at least calling and emailing him daily 

[MJB4231]

Don't think he's taking calls. I'd luv to hear from him.

[copperplay]

  there is a reason he is hiding for 7 months  reality set in 

[happyInvestor1]

yup. Dean not returning my e-mail 2 weeks already..:-C

[copperplay]

this started 7 months ago and never a good sign.  I hope Georgia is right and we get a small financing and keep this fight with partner going until a major ruling in Indonesia is announced on Selat But as discussed on here the reverse merger rumour is still out there and could take time to build value after the restructering but in good Sonoro fashion why not drag this out for 6 months only

[ark88]

Stop bashing. It's plain as day the difficult situation we're in. Your constant need to comment on every post ending with self-flagellation does nothing but remind us bagholders the errors of our decision. Our only redemption as slim as it is lies with Selat Panjang. Good luck to all the long suffering shareholders. Hope something comes of this or it's bust like so many other Venture

[copperplay]

Ark your an idiot 

[copperplay]

its not Selat or bust you moron.  It just means a reverse merger and restructure and shareholders have to wait that much longer to get out My opinion is management know Selat is gone or we would have had an update by now.  No way they are this stupid...or are they? SNV longs wait some more 

[MJB4231]

If Selat was gone it's material... Not gone

[copperplay]

  2.5 cents or $3 million market cap nuf said 

[copperplay]

  Are reserve reports material?  Is starting operations at Selat material?  You may want to review what has been press release by these guys 

[Tree2tree]

Has anybody considered making a formal complaint to the regulators, citing specific issues that should have been reported on by now?  Or a class action..

[MJB4231]

While I have extreme frustration as most here regarding no updates there is one thing I am certain of. My personal dealings with Dean only is that he's a professional and a by the book guy. If there was material info required to be stated it would be. I interpret silence as negotiations either with govt / new partner / Jimmy are on going. Only good thing is these guys have copious amounts of

[copperplay]

  Reserve reports?  And press releases wording?

[copperplay]

  Calgary, Alberta - TheNewswire - November 4 2019 - Sonoro Energy Ltd (the "Corporation "or "Sonoro") (TSXV:SNV), through a wholly owned subsidiary company Zamatra Bakau Straits Ltd, along with its Indonesian co-venturer, announce that it is in the process of assuming full operations of the Selat Panjang oil and gas concession from SKKMIGAS

[StratCap]

From October 7, 2020 Press release... As previously announced, Sonoro has engaged RISC Advisory, an independent oil and gas consultancy firm with global operations and specific expertise in South-East Asia, to complete a NI-51-101 compliant reserve assessment and report for the Selat Panjang PSC. RISC is a globally recognized reserve consultancy firm with extensive experience and expertise with

[copperplay]

Tree2tree you want to elaborate on your post? we have disagreed on many topics but this one I agree and as Stratcap pointed out many invested in SNV based on these press releases 

[copperplay]

This is not a possibility because then they would have to answer hard questions and explain how this has been managed so poorly with so many mixed messages to shareholders.  Question now is have they checked out?  Georgia seems to think not but based on past 6 months with no update hard to believe in them...like I have said many many times and some still dilusional...If this PSC is still

[SubinC]

by the looks of it Dean and Kirk will have an update saying unexpected ukraine war has halted their progress. Cos it always someone else's fault. while these dudes live of shareholder money. btw, ramadan is starting again first week of april. There goes our next update.. lol

[hurko5]

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